Buying Beats Renting in Less than Two Years, But Millennials Still Have Reason to Rent

Fed Decides Against Interest Rate Hike

Buying Beats Renting in Less than Two Years, But Millennials Still Have Reason to Rent

2-16-16Home buyers in Boston, New York, and Washington, D.C.have to stay in a home for at least three years to break even on a home purchase, and buyers in the Bay Area would have to stay nearly that long to make buying financially advantageous, according to Zillow’s Breakeven Horizon analysis for the fourth quarter of 2015.

Those under 35 stay employed at the same place for an average of three years, so buying may not make sense for them, from a financial standpoint, even if paying a mortgage would be more affordable.

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